There is plenty that human beings can do well, and yet there is nothing we do better than growing on a consistent basis. This progressive approach, on our part, has already got us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which realized all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, if we take a closer look, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the goods. The same has grown to become a lot more evident in recent times, and assuming Credit Karma’s latest move pans out just like we envision, it will only make that trend bigger and better moving forward.
Credit Karma, the consumer technology platform with more than 120 million members in the U.S., has officially launched a new product called Net Worth, which is designed to inform members regarding their wealth and how they can grow it over time. Developed in conjunction with Intuit’s Mint service, Net Worth will be initially available to users who have a credit score of 720 or more, except there are plans to touch upon a bigger segment at some point down the line. But what are some of those services that Net Worth will likely bring to the table? Well, the answer includes leveraging the user’s spending habits to maximize their credit card rewards, sharing detailed insights to diversify the user’s portfolio, enabling people to track different net worth-related aspects and help them maintain an optimal growth trajectory, and do a lot more. Another feature worth a mention here is the product’s simplistic stance. You see, Net Worth brings forth a framework where it gauges the user’s financial health by encouraging them to directly link their financial accounts like 401k, brokerage account and outstanding liabilities like a mortgage. Such an approach eliminates any obligation to manually collect all the facts and figures about someone’s net worth. Beyond the holistic viewpoint, the solution will also deliver at your disposal a highly specific brand of transaction history, thus making sure that no information is left out.
“Credit Karma’s mission is to champion financial progress for all, but we know that financial progress looks different for everyone,” said Kenneth Lin, CEO and founder of Credit Karma. “This next evolution of Credit Karma will combine the expertise and momentum generated by Mint with Credit Karma’s scale and technology, and enable us to help more Americans, in particular those who are faced with a new set of financial challenges and are looking to elevate and protect their net worth.”
Founded in 2007, Credit Karma’s rise has arrived on the back of its excellence in providing various new-age fintech services, such as identity monitoring, applying for credit cards, shopping for loans (car, home and personal), auto insurance, savings accounts, and checking accounts etc. However, the company’s most prized accomplishment, till date, talks to the way it pioneered free credit scores. As for the future, Credit Karma will hope to make a similar, if not even bigger, impact with its brand new Net Worth solution.
“Net Worth was built for U.S. consumers who have already made significant progress on their credit score and are looking for that next financial health indicator to track and take action on, as they continue their financial journey,” said Ryan Steckler, general manager of Prime and Mint. “Before we can help consumers grow their net worth, we’ve built a seamless product experience that gives consumers a holistic view of all of their financial accounts, directly within the Credit Karma app.”
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